Liberia Launches Youth Entrepreneurship Investment Bank to Boost Job Creation

Liberia, in a bid to address its youth employment crisis, has officially launched a Youth Entrepreneurship Investment Bank (YEIB) in partnership with the African Development Bank Group. The launch, attended by President Boakai and the outgoing President of the African Development Bank Group, Dr. Akinwumi A. Adesina, aims to provide financing, mentorship, and technical skills to young Liberians and unlock pathways for them to move from informal employment and unemployment into entrepreneurship and productive enterprise.

Key Takeaways:

The Youth Entrepreneurship Investment Bank (YEIB) is jointly financed by the African Development Fund (US$15.9 million), Korea Africa Economic Cooperation (US$0.7 million), with the Government of Liberia providing US$1.2 million in-kind support.
YEIB aims to unlock pathways for youth to move from informal employment and unemployment into entrepreneurship and productive enterprise, with over 71% of Liberia's population under the age of 35 and youth underutilization rates estimated at 76%.
The Bank will provide financing, mentorship, and technical skills to young Liberians in agriculture, technology, the knowledge-based economy, and other emerging sectors.
YEIB is central to the government's ARREST Agenda, which prioritizes Agriculture, Roads, Revenue, Education, Sanitation, and Tourism as the pillars of national transformation.
The initiative is designed to nurture innovation, reduce unemployment, and drive inclusive growth through private sector engagement.
The Bank will prioritize investments in key growth sectors such as agribusiness, digital services, mining, and tourism, with ambitious goals to reach 30,000 youth-led businesses, support 6,000 new and existing enterprises, create approximately 120,000 jobs, and generate over $80 million in tax revenue.
YEIB will operate through a private-sector-led Management Holding Company and include three core Special Purpose Vehicles (SPVs): Early-Stage Equity Fund, Technical Assistance Fund, and Credit Guarantee Fund.

Statistics:

71% of Liberia's population is under the age of 35.
Youth underutilization rates are estimated at 76%.
YEIB is jointly financed by the African Development Fund (US$15.9 million), Korea Africa Economic Cooperation (US$0.7 million), and the Government of Liberia (US$1.2 million in-kind support).
The Bank aims to create 120,000 jobs and generate over $80 million in tax revenue.
YEIB has ambitious goals to reach 30,000 youth-led businesses, support 6,000 new and existing enterprises, and unlock up to $500 million in additional private and public financing for youth entrepreneurship in Liberia.

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